Part 5/6:

Industry experts argue that losing these incentives could stifle progress and innovation that have characterized the automotive sector over the past few years. Thus, many stakeholders hope the current administration remains steadfast in supporting these initiatives to sustain momentum in the EV market.

Electric Vehicle Market in Japan

In stark contrast, electric vehicle sales in Japan have faltered dramatically, with a reported 33% decline. Internal factors, such as a deliberate misinformation campaign by Toyota aimed at discouraging the switch to EVs, have contributed significantly to this trend. Despite this sharp downturn, foreign brands like BYD and Tesla have seized the opportunity to capture market share, surpassing even Japanese automakers like Toyota in EV sales.